Poynton-based manufacturer of volumetric mixers, Armcon, has announced it has transitioned to an employee owned business, through an Employee Ownership Trust (EOT).
The transfer of the business to an EOT completed on February 1st. The change in ownership structure comes following the appointment of Sean Warburton in January, who will take the role of Managing Director of the firm, working alongside founder Robert Armstrong.
The new MD, and the move to an employee ownership model will help to secure the future of the firm long-term. The Poynton-based business has been supplying UK designed and manufactured mixing equipment to the concrete sector for over 30 years. Founder Robert Armstrong commented:
As part of protecting Armcon’s legacy and propel it into a new, independent era where international markets could be explored, I thought an EOT would be the best route to make that viable.
“Armcon has a brilliant new managing director onboard in addition to an experienced team and I believe Armcon’s future is very bright.”
FDS Director Services assisted the firm with the transition; MD Poonam Kaur said:
This is a very exciting time for Armcon, and we were thrilled to assist Robert in the company’s transition, whilst being able to share our knowledge and own experiences in EOTs,” she added.
“The employees in the business now have a real opportunity to develop and contribute to the success and longevity of the business whilst having ownership via the EOT.”
Armcon received further legal support from Yorkshire-based law firm, Keebles LLP.
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